Class A Controlling Party definition

Class A Controlling Party means each affiliate of Financial Security (or special purpose entity with obligations guaranteed by Financial Security or an affiliate thereof) that has entered into a Class A Controlling Party Swap.
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Class A Controlling Party means, from such time as MBIA Insurance Corporation ("MBIA") is providing credit enhancement with respect to not less than 66 2/3 per cent. of the Principal Outstanding Amount of Class A Notes, whether in the form of a negative basis swap, a guarantee, a standby letter of credit, a surety bond, an insurance policy, a credit default swap or any other form of credit insurance or risk management and has provided written notice to the Investment Manager, the Issuer and the Trustee of the same, until such time as a Class A Controlling Party Termination Event has occurred, MBIA.
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Class A Controlling Party means an Affiliate of Financial Security, the rights of which to direct the Class A Controlling Party Swap Counterparty shall be conditional upon its entry into the Class A Controlling Party Swap.
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Examples of Class A Controlling Party in a sentence

  • However, the Issuer has covenanted not to create any such subsequent security interests without the consent of the Trustee, which consent shall not be given, prior to the occurrence of a Class A Controlling Party Termination Event only, without the prior consent in writing of the Controlling Class acting by Extraordinary Resolution.

  • Each of Financial Security, each affiliate of Financial Security, and each Class A Controlling Party is a “Class A Applicable Party”.The Class A Controlling PartyA Class A Controlling Party may exercise, or direct the exercise of, its rights in a manner that is contrary to the interests of some or all of the Noteholders.

  • If an Event of Default occurs and is continuing, the Trustee may, at its discretion and shall (subject to it being indemnified and/or secured to its satisfaction), if so directed by the Class A Controlling Party or, following receipt of notification by the Issuer, the Trustee and the Investment Manager of the occurrence of a Class A Controlling Party Termination Event, by the Controlling Class acting by Ordinary Resolution, give notice to the Issuer that all the Notes are to be immediately due and payable.

  • Financial Security will issue a financial guarantee in respect of the obligations of the Class A Controlling Party under the Class A Controlling Party Swap and as such will have financial exposure related to the performance of the Class A Notes.

  • To the extent that such economic interests diverge, the Class A Controlling Party's sole and exclusive entitlement to exercise certain rights afforded to the Class A Controlling Party under the Trust Deed and the Investment Management Agreement could have a materially adverse effect on such purchasers.

  • However, the Issuer has covenanted not to create any such subsequent security interests without the consent of the Trustee which consent shall not be given, prior to the occurrence of a Class A Controlling Party Termination Event only, without the prior consent in writing of the Controlling Class acting by Extraordinary Resolution.


More Definitions of Class A Controlling Party

Class A Controlling Party means Financial Security or one or more Affiliates of Financial Security and/or one or more special purpose entities with obligations guaranteed by Financial Security or an Affiliate thereof the rights of which to direct the Class A Controlling Party Swap Counterparty shall be conditional upon its entry into the Class A Controlling Party Swap.
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Related to Class A Controlling Party

  • Non-Controlling Party means, at any time, any Trustee, Liquidity Provider or other Person which is not the Controlling Party at such time.

  • Non-Lead Securitization Subordinate Class Representative means the holders of the majority of the class of securities issued in a Non-Lead Securitization designated as the “controlling class” pursuant to the related Non-Lead Securitization Servicing Agreement or their duly appointed representative; provided that if 50% or more of the class of securities issued in any Non-Lead Securitization designated as the “controlling class” or such other class(es) otherwise assigned the rights to exercise the rights of the “Controlling Noteholder” is held by the Mortgage Loan Borrower or an Affiliate of the Mortgage Loan Borrower, no person shall be entitled to exercise the rights of the related Non-Lead Securitization Subordinate Class Representative.

  • Controlling Class Representative shall have the meaning assigned to the term “Directing Certificateholder” in the Lead Securitization Servicing Agreement.

  • Lead Securitization Subordinate Class Representative means the “Controlling Class Representative” as defined in the Lead Securitization Servicing Agreement or such other analogous term used in the Lead Securitization Servicing Agreement.

  • Non-Controlling Note Holder Representative shall have the meaning assigned to such term in Section 6(c).

  • Controlling Party Has the meaning specified in the Intercreditor Agreement.

  • Non-Controlling Noteholder means each Noteholder other than the Controlling Noteholder; provided that, if at any time a Non-Controlling Note (or, at any time a Non-Lead Securitization Note is included in a Securitization, the Non-Lead Securitization Subordinate Class Representative) is held by the Mortgage Loan Borrower or a Mortgage Loan Borrower Related Party, no Person shall be entitled to exercise the rights of such Non-Controlling Noteholder with respect to such Non-Controlling Note.

  • Non-Lead Securitization Noteholder Representative shall have the meaning assigned to such term in the definition of “Non-Lead Securitization Noteholder”.

  • Controlling Note Holder Representative shall have the meaning assigned to such term in Section 6(a).

  • Non-Lead Securitization Determination Date means the “determination date” (or any term substantially similar thereto) as defined in the related Non-Lead Securitization Servicing Agreement.

  • Class A Noteholders’ Interest Distribution Amount means, for any distribution date, the sum of: • the amount of interest accrued at the class A note interest rates for the related accrual period on the aggregate outstanding principal balances of all classes of class A notes on the immediately preceding distribution date, after giving effect to all principal distributions to class A noteholders on that preceding distribution date; and • the Class A Note Interest Shortfall for that distribution date.

  • Controlling Noteholder means as of any date of determination the holder or holders of a majority of the Lead Securitization Note. At any time the Lead Securitization Note is the Controlling Noteholder and is included in the Lead Securitization, references to the “Controlling Noteholder” herein shall mean the holders of the majority of the class of securities issued in the Lead Securitization designated as the “controlling class” (or such lesser amount as permitted under the terms of the Servicing Agreement) or such other class(es) otherwise assigned the rights to exercise the rights of the “Controlling Noteholder” hereunder, as and to the extent provided in the Servicing Agreement.

  • Class A Noteholders’ Distribution Amount means, for any distribution date, the sum of the Class A Noteholders’ Interest Distribution Amount and the Class A Noteholders’ Principal Distribution Amount for that distribution date.

  • Controlling Person With respect to any Person, any other Person who “controls” such Person within the meaning of the Securities Act.

  • Non-Lead Securitization Date means the closing date of any Non-Lead Securitization.

  • Class A Noteholders’ Principal Distribution Amount means, for any distribution date, the Principal Distribution Amount times the Class A Percentage for that distribution date, plus any Class A Note Principal Shortfall as of the close of business on the preceding distribution date; provided that the Class A Noteholders’ Principal Distribution Amount will not exceed the outstanding principal balance of the class A notes, less all amounts, other than investment earnings, on deposit in the accumulation account.In addition, on the maturity date for any class of class A notes, the principal required to be distributed to the related noteholders will include the amount required to reduce the outstanding principal balance of that class to zero.

  • Controlling Entity means an entity which owns, directly or indirectly through one or more intermediaries, (i) a general partnership interest or a Controlling Interest of the limited partnership interests in Borrower (if Borrower is a partnership or joint venture), (ii) a manager's interest in Borrower or a Controlling Interest of the ownership or membership interests in Borrower (if Borrower is a limited liability company), (iii) a Controlling Interest of any class of voting stock of Borrower (if Borrower is a corporation), (iv) a trustee's interest or a Controlling Interest of the beneficial interests in Borrower (if Borrower is a trust), or (v) a managing partner's interest or a Controlling Interest of the partnership interests in Borrower (if Borrower is a limited liability partnership).

  • Controlling Note means Note A-1.

  • Non-Lead Securitization Note Holder Representative means the “Directing Certificateholder” or equivalent Person under the Non-Lead Securitization Servicing Agreement.

  • Ultimate controlling person means that person which is not controlled by any other person.

  • Class Representative means the named Plaintiff in the operative complaint in the Action seeking Court approval to serve as a Class Representative.